We have been good customers for many years and didn't miss mortgage payments until Wells Fargo refused to accept payments after an unemployment deferment when my wife lost her job.
Wells Fargo employees never disclosed the program for deferred balance repayment until after it was too late for us to qualify for it. The bank has refused to accept any payment from us unless we pay the entire overdue amount, which has continued to grow because Wells Fargo won't accept our payments. If we'd had thousands of dollars to pay the deferred amount, we wouldn't have needed the deferment.
Mortgage attorneys have refused our case because we have equity in the home of over $100,000 and it is known that Wells Fargo refuses to modify loans for people with equity or that have completed more than half the term of the loan because the bank has no vested interest in the homeowner keeping their home. The bank will make more money by selling the home from under the homeowner so they refuse to modify the loan and simply wait out the appeals process until the homeowner has exhausted all their options. Then Wells Fargo makes a great profit and the homeowner is left with nothing.
With all of our appeals to the bank and the State exhausted, we are left with wiping out our retirement savings to save our home and with the bank dragging their feet on giving us a catch-up amount for the loan we don't even know if we'll have enough doing that.
Federal programs enacted after the bank bailouts were supposed to be designed to keep hard working families in their homes. We need help and our calls to Representative Barbara Lee, Senator Barbara Boxer, and Senator Dianne Feinstein have resulted in no substantive action. Now we need help from the customers of Wells Fargo and community at large to keep our home. My wife, son, and aging mother all need a place to live. Please help!